Why tech stocks are getting hammered
Key takeaways
- Tech stocks took another big hit Tuesday as investors sold off shares of companies that have powered the artificial intelligence boom.
- Technology companies have been spending billions of dollars investing in data centers and infrastructure needed to support the race to advance AI.
- Reflecting the unease, the tech-heavy Nasdaq composite dropped roughly 2%.
Traders work on the floor of the New York Stock Exchange during morning trading in New York City. (Michael M. Santiago / Getty Images) By Queenie Wong Staff Writer Follow June 23, 2026 2:42 PM PT 5 min Click here to listen to this article Share via Close extra sharing options Email Facebook X Linked In Threads Reddit Whats App Copy Link URL Copied! Print 0:00 0:00 1x This is read by an automated voice. Please report any issues or inconsistencies here.
Tech stocks took another big hit Tuesday as investors sold off shares of companies that have powered the artificial intelligence boom.
Technology companies have been spending billions of dollars investing in data centers and infrastructure needed to support the race to advance AI. But sky-high valuations and geopolitical tensions have some investors questioning whether massive AI spending will pay off, analysts said.